Royal Road Minerals Ltd (TSX-V:RYR, OTC:RRDMF, FRA:RLU) reported high-grade silver and antimony intersections from its first diamond drilling program at the Margaritas target within its Güíntar-Aleman-Margaritas gold-copper-silver project in Colombia.
The company completed four drill holes totalling 1,154 meters at Margaritas, uncovering a large mineralized system within altered volcanic and intrusive rocks. The best result came from drill hole MAR-DD-002, which hit 4 meters grading 651 grams per tonne silver and 0.47% antimony, equivalent to 11.3 g/t gold.
Other highlights include 5 meters at 377 g/t silver and 0.28% antimony in MAR-DD-003, and 3 meters at 204 g/t silver in MAR-DD-001.
The project sits about 50 kilometers west of Medellín. Royal Road acquired the core concessions from a subsidiary of AngloGold Ashanti in 2019.
Margaritas is located four kilometers south of the company's Güíntar porphyry discovery, and Royal Road believes the two may be part of the same broader mineralized system. The company said results point toward a larger porphyry source at depth or to the south.
"The high-grade silver-antimony veins were not obvious on surface and are a pleasant surprise," said Dr Tim Coughlin, Royal Road’s CEO. "Together with the broader mineralized zones identified during drilling, they further corroborate the distal model and provide important vectors toward the porphyry target."
Royal Road said it will commence detailed geochemical and geophysical vectoring studies to locate follow-up drill holes aimed at identifying the primary source of the hydrothermal system, while continuing to evaluate the economic potential of the high-grade silver-antimony veins.
